Lam Research Q3 Profit Tops Estimate

(RTTNews) - Lam Research Corp. (LRCX) reported net income for the third quarter of $164.4 million or $0.96 per share, compared to $19.0 million or $0.11 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest quarter was $216.4 million or $1.26 per share.

Revenue for the third quarter rose to $1.23 billion from $844.93 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $1.17 per share on revenue of $1.22 billion for the third quarter.

Looking forward to the fourth quarter, the company forecasts revenue of $1.24 billion, +/- $50 million, earnings of $0.98 per share, +/- $0.07 per share, and adjusted earnings of $1.21 per share, +/- $0.07 per share.

Analysts currently expect the company to earn $1.09 per share on revenue of $1.16 billion for the fourth quarter.